Governance Guild
API3 DAO
API3 is governed by a Decentralized Autonomous Organization (DAO). The DAO is a collaborative effort to build, manage and monetize dAPIs at scale. To achieve true decentralization, API3 is managed by its token holders. Any community members can stake in the DAO pool and obtain direct voting privileges in the DAO and thus participate in the governance of the project directly. The end-to-end process of creating and voting on proposals is open to all API3 token holders. In addition, stakers receive Inflationary Rewards and any additional benefits that the DAO may decide on in the future.
API3 Governance guild
API3 governance guild aims to provide a gated space for the API3 holders to discuss upcoming proposals, answer questions and concerns, and notify seamlessly holders of proposals. API3 strives to increase the decentralization of the protocol and strengthen the DAO by creating transparent processes and providing the needed resources for everyone to participate.
Members will get regular briefs for the governance activity of the DAO and access voting in a simple way through Discord. The Governance guild is accessible with an NFT. Every community member with equal or above (number) of API3 tokens, can join the guild on our Discord.
API3 Governance Details
One can participate in the governance process in two ways: creating a proposal and voting.
To create a proposal, you must not have made a proposal in the last seven days, and you must hold at least 0.1% of the total staked tokens in the pool. To view the percentage of staked tokens in the pool for an address, visit the DAO Tracker wallets.
On the other hand, everyone can vote on all proposals regardless of the percentage of staked tokens in the pool they own. Participants can vote themselves or delegate their vote to a third person. Stakers can browse the Governance proposals and participate by connecting their wallet on the API3 DAO page.
It is worth mentioning that by delegating your vote to another user, only that person can vote for you. However, if the person you delegated to has also delegated to someone, your voting power is discarded. You can update your delegatee after seven days have passed since your last delegation.
API3 Governance Process
When a proposal is created, the individual will have to share the initial idea on the Guild chat for initial feedback and discussion. Following this, they will have to share a draft proposal on the Forum to reach a rough consensus. The criteria used for this will include polls to give a clearer signal to the creator. The successful proposal will be pushed on the API3 DAO page for voting. If a proposal passes, the relevant subDAO will add the proposal action items to their pipeline.
API3 Resources
Getting involved in API3's governance is open to individuals, including engineers, creative thinkers, and business minds. Everyone is encouraged to shape the protocol and contribute to community efforts. Find out how you can get started.
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